Oil and Gas Lease Offer

I recently received an Oil & Gas Lease Agreement from ILG Energy - does anyone know if they are legit?  They are offering $3,000 per acre bonus, plus15-1/2% royalty, and $4,000 per well drilled on your property.  I have 32 acres in Center Twp.

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Replies to This Discussion

Permalink Reply by michael j belaj on October 6, 2011 at 4:09am
$4000.00 per well drilled is not a good offer I have been to well pads they are very large $25,000.00 to $35,000.00 is more like a fair offer.
09bp5t05myjl3Permalink Reply by 09bp5t05myjl3 on October 9, 2011 at 9:51pm
We were told this deal is falling apart as ILG can't sell the deal as the lease is so bad & also has a max 340 Acre pooling clause when most are 640 to 1280 & the oil companies want the 1280, The people in this group signing need to determine the status & if they don't get the bonus in 90 days have a back up, they may want to join a landowner group now!
Permalink Reply by Johhny Jacobs on May 10, 2012 at 10:32am

ILG = opposite of legit.  They are known as "grippers and flippers" in the industry.  They will pay your bonus IF someone pays them much more for your lease first.  They will not and cannot drill for oil, gas or anything else.  

Permalink Reply by Rec on May 22, 2012 at 8:35pm
Anything new in the co. Not much talk going on??
Permalink Reply by time will tell on May 22, 2012 at 10:55pm

haven't herd a thing .

Permalink Reply by Rec on May 23, 2012 at 6:49pm
Percision geophysical trucks was going north from woodsfield today
Permalink Reply by time will tell on May 23, 2012 at 8:57pm

hope they find what they are looking for so we can get rolling again .Thanks Ray .

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